Vinalines to launch IPO in September

Vinalines to launch IPO in September The Saigon Times Daily A Vinalines vessel docks at Saigon Port – PHOTO: ANH QUAN HCMC – Vietnam National Shipping Lines (Vinalines) will launch its initial public offering (IPO) on September 5, in a bid to sell over 488 million shares, equivalent to a 34.8% stake, reported news site VietnamPlus. Vinalines is set to work with Saigon Securities Inc. (SSI) to organize a roadshow at the Hanoi Stock Exchange (HNX) on August 20 before the auction takes place at 8.30 a.m. on September 5. Investors can register for participation and make deposits prior to August 28. Vinalines will offer 488,818,130 shares, with a starting price of VND10,000 each, equal to a 34.8% stake in its IPO, a representative of Vinalines said. The Ministry of Transport earlier issued Decision 1659/QD-BGTVT approving the enterprise’s plan to choose strategic investors and adjust the amount of IPO shares in Vinalines.